Total SA (TOT) is considering moving its corporate treasury and financial communications services from Paris to London , the French oil major said Monday, adding the move would have nothing to do with the current level of taxes in France .

The company is discussing the potential plans with union representatives and "nothing would happen before the end of the year if the decision is actually made," a spokesman for Total said.

The rationale behind such a move is that "80% of analysts who follow the group are based in London , and we need to get closer to this community," the spokesman said.

Total will still be listed in Paris and doesn't intend to be listed on the London Stock Exchange, the spokesman said. Such a move wouldn't affect the financial profits the group reports in France , meaning "this has nothing to do with taxes in France ," he added.

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